Chelsea have been hit with a suspended transfer ban and a huge £10.75m fine after reaching a settlement over Premier League rules breaches.
The club has also been hit with an immediate nine-month academy transfer ban, with the one-year first-team ban suspended for two years.
The Blues voluntarily reported potential historical breaches of rules in 2022, and an independent commission has now concluded its findings.
A club statement read: “Chelsea Football Club is pleased to confirm that the club has reached a settlement with the Premier League in relation to historical regulatory matters that were self-reported by the club in 2022.
“As previously announced, the club voluntarily and proactively disclosed to all applicable regulators potential historical rule breaches, including incomplete financial reporting that took place over a decade ago.
“During an extensive Premier League investigation, the club proactively disclosed many thousands of documents. Also, when requests for information were made by the Premier League, the club promptly provided comprehensive responses and facilitated all lines of inquiry to support a complex and extremely thorough process.”
The Independent understands the breaches do not relate to the league’s profit and sustainability rules, with independent determinations by the “big four” accounting companies deeming that there would have been no infractions in this regard even if all payments had been appropriately reported.
The Premier League said that “the club has demonstrated exceptional cooperation throughout the course of the investigation”, with Chelsea believing they have set the model for how clubs should engage with governing bodies. The club is believed to have provided thousands of documents for the investigation.
The investigation related to financial reporting, third-party investment and youth development throughout the Roman Abramovich era. The infractions regarding the academy also took place under former leadership.
In 2022, a consortium led by American investor Todd Boehly and private equity firm Clearlake Capital completed the £4.25bn purchase of the club from the Russian billionaire, following his sanctions over links to Russian president Vladimir Putin.
Chelsea face a separate FA disciplinary procedure, which concerns similar conduct surrounding 74 charges, and that remains ongoing. The club is not expecting to face a sporting sanction, such as a points deduction or transfer embargo, for these breaches, due to a similar level of cooperation in the investigation.
Blues head coach Liam Rosenior said the sanctions were not a “negative distraction”.
“I think actually that’s a line drawn through that issue and we can move on, and we can plan to make this club as strong as possible in the long term,” he said at a press conference on Monday afternoon.
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